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CHOICEONE FINANCIAL SVCS INC (COFS) Stock Fundamental Analysis

NASDAQ:COFS - Nasdaq - US1703861062 - Common Stock - Currency: USD

29.31  +0.82 (+2.88%)

After market: 29.31 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to COFS. COFS was compared to 396 industry peers in the Banks industry. Both the profitability and financial health of COFS have multiple concerns. COFS is not overvalued while it is showing excellent growth. This is an interesting combination.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year COFS was profitable.
In the past year COFS had a positive cash flow from operations.
COFS had positive earnings in each of the past 5 years.
In the past 5 years COFS always reported a positive cash flow from operatings.
COFS Yearly Net Income VS EBIT VS OCF VS FCFCOFS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

1.2 Ratios

Looking at the Return On Assets, with a value of 0.17%, COFS is doing worse than 87.37% of the companies in the same industry.
The Return On Equity of COFS (1.68%) is worse than 87.63% of its industry peers.
Industry RankSector Rank
ROA 0.17%
ROE 1.68%
ROIC N/A
ROA(3y)0.93%
ROA(5y)0.91%
ROE(3y)11.71%
ROE(5y)10.39%
ROIC(3y)N/A
ROIC(5y)N/A
COFS Yearly ROA, ROE, ROICCOFS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

Looking at the Profit Margin, with a value of 6.97%, COFS is doing worse than 86.87% of the companies in the same industry.
COFS's Profit Margin has improved in the last couple of years.
The Operating Margin and Gross Margin are not available for COFS so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 6.97%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y1.55%
PM growth 5Y8.3%
GM growth 3YN/A
GM growth 5YN/A
COFS Yearly Profit, Operating, Gross MarginsCOFS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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3

2. Health

2.1 Basic Checks

COFS does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, COFS has more shares outstanding
Compared to 5 years ago, COFS has more shares outstanding
Compared to 1 year ago, COFS has an improved debt to assets ratio.
COFS Yearly Shares OutstandingCOFS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M
COFS Yearly Total Debt VS Total AssetsCOFS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

The Debt to FCF ratio of COFS is 1.96, which is an excellent value as it means it would take COFS, only 1.96 years of fcf income to pay off all of its debts.
COFS's Debt to FCF ratio of 1.96 is in line compared to the rest of the industry. COFS outperforms 49.24% of its industry peers.
COFS has a Debt/Equity ratio of 0.11. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.11, COFS is doing good in the industry, outperforming 66.92% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 1.96
Altman-Z N/A
ROIC/WACCN/A
WACC12.29%
COFS Yearly LT Debt VS Equity VS FCFCOFS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
COFS Yearly Current Assets VS Current LiabilitesCOFS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2023 2024 50M 100M 150M

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 19.93% over the past year.
Measured over the past years, COFS shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.52% on average per year.
Looking at the last year, COFS shows a very strong growth in Revenue. The Revenue has grown by 27.91%.
Measured over the past years, COFS shows a very strong growth in Revenue. The Revenue has been growing by 20.14% on average per year.
EPS 1Y (TTM)19.93%
EPS 3Y4.36%
EPS 5Y15.52%
EPS Q2Q%16.22%
Revenue 1Y (TTM)27.91%
Revenue growth 3Y5.01%
Revenue growth 5Y20.14%
Sales Q2Q%52.13%

3.2 Future

Based on estimates for the next years, COFS will show a small growth in Earnings Per Share. The EPS will grow by 7.04% on average per year.
Based on estimates for the next years, COFS will show a very strong growth in Revenue. The Revenue will grow by 37.58% on average per year.
EPS Next Y6.75%
EPS Next 2Y7.04%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year71.31%
Revenue Next 2Y37.58%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
COFS Yearly Revenue VS EstimatesCOFS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
COFS Yearly EPS VS EstimatesCOFS Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 8.70, the valuation of COFS can be described as very reasonable.
Based on the Price/Earnings ratio, COFS is valued cheaply inside the industry as 89.65% of the companies are valued more expensively.
COFS is valuated cheaply when we compare the Price/Earnings ratio to 26.52, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 7.87, the valuation of COFS can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of COFS indicates a somewhat cheap valuation: COFS is cheaper than 78.54% of the companies listed in the same industry.
COFS is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.25, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.7
Fwd PE 7.87
COFS Price Earnings VS Forward Price EarningsCOFS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

71.46% of the companies in the same industry are cheaper than COFS, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.83
EV/EBITDA N/A
COFS Per share dataCOFS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

COFS's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.29
PEG (5Y)0.56
EPS Next 2Y7.04%
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.93%, COFS has a reasonable but not impressive dividend return.
COFS's Dividend Yield is a higher than the industry average which is at 3.50.
COFS's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 3.93%

5.2 History

The dividend of COFS has a limited annual growth rate of 0.25%.
COFS has paid a dividend for at least 10 years, which is a reliable track record.
COFS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.25%
Div Incr Years13
Div Non Decr Years15
COFS Yearly Dividends per shareCOFS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

155.35% of the earnings are spent on dividend by COFS. This is not a sustainable payout ratio.
The dividend of COFS is growing, but earnings are growing more, so the dividend growth is sustainable.
DP155.35%
EPS Next 2Y7.04%
EPS Next 3YN/A
COFS Yearly Income VS Free CF VS DividendCOFS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
COFS Dividend Payout.COFS Dividend Payout, showing the Payout Ratio.COFS Dividend Payout.PayoutRetained Earnings

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CHOICEONE FINANCIAL SVCS INC

NASDAQ:COFS (6/6/2025, 8:00:00 PM)

After market: 29.31 0 (0%)

29.31

+0.82 (+2.88%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-30 2025-04-30/bmo
Earnings (Next)07-23 2025-07-23/amc
Inst Owners37.11%
Inst Owner Change65.33%
Ins Owners6.57%
Ins Owner Change17.21%
Market Cap439.06M
Analysts84.44
Price Target36.04 (22.96%)
Short Float %0.62%
Short Ratio1.33
Dividend
Industry RankSector Rank
Dividend Yield 3.93%
Yearly Dividend1.09
Dividend Growth(5Y)0.25%
DP155.35%
Div Incr Years13
Div Non Decr Years15
Ex-Date06-13 2025-06-13 (0.28)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.99%
Min EPS beat(2)-6.12%
Max EPS beat(2)8.09%
EPS beat(4)3
Avg EPS beat(4)6.7%
Min EPS beat(4)-6.12%
Max EPS beat(4)12.61%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-2.13%
Min Revenue beat(2)-3.71%
Max Revenue beat(2)-0.56%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.91%
PT rev (3m)-9.4%
EPS NQ rev (1m)-0.84%
EPS NQ rev (3m)-6.75%
EPS NY rev (1m)0.33%
EPS NY rev (3m)-2.12%
Revenue NQ rev (1m)-0.72%
Revenue NQ rev (3m)1.59%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.47%
Valuation
Industry RankSector Rank
PE 8.7
Fwd PE 7.87
P/S 4.26
P/FCF 17.83
P/OCF 16.35
P/B 1.03
P/tB 1.66
EV/EBITDA N/A
EPS(TTM)3.37
EY11.5%
EPS(NY)3.72
Fwd EY12.7%
FCF(TTM)1.64
FCFY5.61%
OCF(TTM)1.79
OCFY6.12%
SpS6.89
BVpS28.51
TBVpS17.7
PEG (NY)1.29
PEG (5Y)0.56
Profitability
Industry RankSector Rank
ROA 0.17%
ROE 1.68%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 6.97%
GM N/A
FCFM 23.88%
ROA(3y)0.93%
ROA(5y)0.91%
ROE(3y)11.71%
ROE(5y)10.39%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y1.55%
PM growth 5Y8.3%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 1.96
Debt/EBITDA N/A
Cap/Depr 17.28%
Cap/Sales 2.16%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 342.7%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC12.29%
ROIC/WACCN/A
Cap/Depr(3y)18.86%
Cap/Depr(5y)20.56%
Cap/Sales(3y)2.84%
Cap/Sales(5y)2.9%
Profit Quality(3y)186.62%
Profit Quality(5y)152.18%
High Growth Momentum
Growth
EPS 1Y (TTM)19.93%
EPS 3Y4.36%
EPS 5Y15.52%
EPS Q2Q%16.22%
EPS Next Y6.75%
EPS Next 2Y7.04%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)27.91%
Revenue growth 3Y5.01%
Revenue growth 5Y20.14%
Sales Q2Q%52.13%
Revenue Next Year71.31%
Revenue Next 2Y37.58%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-50.47%
FCF growth 3Y10.34%
FCF growth 5Y40.98%
OCF growth 1Y-47.73%
OCF growth 3Y8.87%
OCF growth 5Y39.52%